Informed Momentum Co LLC Buys 204,190 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Key Points

• Informed Momentum Co LLC significantly increased its stake in AxoGen, Inc. by 558.7% in the first quarter, owning 240,737 shares worth approximately $4.45 million.
• A number of other hedge funds also expanded their positions in AxoGen, with institutional investors now owning 80.29% of the company's stock.
• AxoGen recently received upgrades from analysts, with Wall Street Zen changing its rating from "hold" to "buy," highlighting increased confidence in the company's stock.

Informed Momentum Co LLC lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 558.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 240,737 shares of the medical equipment provider's stock after buying an additional 204,190 shares during the quarter. AxoGen comprises approximately 0.8% of Informed Momentum Co LLC's investment portfolio, making the stock its 26th largest holding. Informed Momentum Co LLC owned about 0.53% of AxoGen worth $4,454,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AXGN. Divisadero Street Capital Management LP increased its stake in AxoGen by 2.7% during the 4th quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider's stock valued at $444,000 after purchasing an additional 700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AxoGen by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock worth $398,000 after acquiring an additional 926 shares in the last quarter. State of Wyoming bought a new stake in shares of AxoGen in the 4th quarter worth $31,000. Rhumbline Advisers grew its stake in shares of AxoGen by 3.5% in the 1st quarter. Rhumbline Advisers now owns 60,264 shares of the medical equipment provider's stock worth $1,115,000 after acquiring an additional 2,032 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of AxoGen by 9.8% in the 4th quarter. MetLife Investment Management LLC now owns 26,034 shares of the medical equipment provider's stock worth $429,000 after acquiring an additional 2,319 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company's stock.

AxoGen Price Performance

NASDAQ AXGN traded up $0.03 on Friday, reaching $14.93. 1,514,260 shares of the company's stock traded hands, compared to its average volume of 1,981,769. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $21.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. The stock has a 50-day simple moving average of $11.84 and a 200 day simple moving average of $14.59. The stock has a market cap of $686.97 million, a PE ratio of -149.29 and a beta of 1.00.

Insider Buying and Selling

In other news, Director Joseph A. Tyndall sold 20,062 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total value of $224,694.40. Following the transaction, the director owned 15,345 shares in the company, valued at approximately $171,864. This trade represents a 56.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.